Gateway Investment Advisers LLC Lowers Position in Abbott Laboratories (NYSE:ABT)

Gateway Investment Advisers LLC lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 547,589 shares of the healthcare product maker’s stock after selling 573 shares during the period. Gateway Investment Advisers LLC’s holdings in Abbott Laboratories were worth $62,431,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Abbott Laboratories by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock valued at $17,222,332,000 after buying an additional 701,740 shares in the last quarter. Sanibel Captiva Trust Company Inc. bought a new position in shares of Abbott Laboratories during the fourth quarter valued at about $16,764,000. Garde Capital Inc. lifted its stake in shares of Abbott Laboratories by 16.4% in the 4th quarter. Garde Capital Inc. now owns 1,858 shares of the healthcare product maker’s stock valued at $205,000 after acquiring an additional 262 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Abbott Laboratories by 0.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 894,797 shares of the healthcare product maker’s stock valued at $98,490,000 after purchasing an additional 8,224 shares during the last quarter. Finally, BDF Gestion bought a new stake in Abbott Laboratories during the 2nd quarter valued at $7,651,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Up 0.4 %

Shares of ABT traded up $0.50 during mid-day trading on Friday, hitting $116.12. 3,471,291 shares of the company traded hands, compared to its average volume of 5,728,511. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $202.01 billion, a PE ratio of 36.18, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The business has a 50 day moving average of $113.13 and a 200 day moving average of $108.35.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. The company had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. Abbott Laboratories’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.08 EPS. Equities research analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Barclays increased their target price on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Evercore ISI raised their price target on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Piper Sandler began coverage on Abbott Laboratories in a report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 target price for the company. Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada raised their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.15.

Insider Activity at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the sale, the chief executive officer now owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.